The Democratic People’s Republic of Korea’s (DPRK’s) series of escalatory ballistic missile launches – including six intercontinental ballistic missile tests this year alone – are in blatant violation of UN Security Council resolutions and pose a grave threat to regional stability and international peace and security.

Today, the United States is designating for sanctions Air Koryo Trading Corporation, a DPRK entity that has provided or attempted to provide support to the U.S.-designated DPRK Ministry of Rocket Industry; Jong Yong Nam, a DPRK representative for an organization subordinate to the UN- and U.S.-designated Second Academy of Natural Sciences; and Bank Sputnik, a Russian bank that has assisted the UN- and U.S.-designated Foreign Trade Bank, pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction and their means of delivery.  The United States is also sanctioning Far Eastern Bank, a Russian bank, pursuant to E.O. 13722, which targets the DPRK government and certain activities in the DPRK.

We are taking these actions in response to the DPRK’s ongoing development of its weapons of mass destruction (WMD) and ballistic missile programs in violation of multiple United Nations Security Council resolutions.  As a result of today’s sanctions, any property or interests in property of the designated persons in the possession or control of U.S. persons or entities or within the United States must be blocked, and U.S. persons are prohibited from dealing with any of the designated parties.

We continue to coordinate closely with our allies and partners to address the threats posed by the DPRK’s destabilizing activities and to advance our shared objective of the complete denuclearization of the Korean Peninsula.  We remain committed to diplomacy with the DPRK and call on the DPRK to engage in dialogue.  At the same time, we continue to urge all UN Member States to fully implement the UN Security Council resolutions addressing the DPRK in order to constrain its ability to advance its unlawful WMD and ballistic missile programs.

For more information on today’s action, see the Department of the Treasury’s press release.